My end-of-week morning train WFH reads:
• Howard Marks: Is It a Bubble? Ours is a remarkable moment in world history. A transformative technology is ascending, and its supporters claim it will forever change the world. To build it requires companies to invest a sum of money unlike anything in living memory. News reports are filled with widespread fears that America’s biggest corporations are propping up a bubble that will soon pop. (Oaktree Capital)
• The Collapse of Human Knowledge: And why you should create more in the age of AI. (Grant Varner’s Almanack) see also Teaching when to trust: As fake news accelerates, we need to teach our children how to think critically. Finnish schools are leading the charge. (New Humanist)
• The Five Things Luxury Shoppers Want Right Now: Jean-Marc Mansvelt, CEO of LVMH’s leather house Berluti, explains what consumers are looking for from the industry. (Bloomberg)
• Crypto’s rocky year: The industry was hugely optimistic when Donald Trump returned to the White House. But bitcoin has fallen by a quarter in two months. (Financial Times)
• How DoorDash became an $85 billion behemoth and won the delivery wars: The company has more than twice the U.S. market share of the next competitor, Uber Eats—but that’s just the beginning, says CEO Tony Xu. (Fortune)
• Why ‘job hugging’ can be worse than quitting: In a low-hire labor market, clinging to a current role—however unsatisfying it is—may seem logical. But there’s a psychological impact to feeling stuck. (Fast Company)
• What True Wealth Looks Like: Money can make you happier, but only if you don’t care about it. (The Atlantic)
• The quest to slow aging leads scientists into the powerhouse of cells: Texas A&M researchers create mini mitochondria factories using tiny nanoflowers. (Washington Post)
• Want This Hearing Aid? Well, Who Do You Know? AI-powered startup Fortell has become a secret handshake for the privileged hearing-impaired crowd who swear by the product. Now, it wants to be in your ears. (Wired)
• The ‘Race Against Time’ to Save Music Legends’ Decaying Tapes: New problems are plaguing old reels, putting decades of history at risk. One man, armed with hair dryers and a love of tinkering, is leading the charge to rescue them. Much of America’s musical heritage is stored on artists’ studio tapes. But as they age, many of those reels are slowly deteriorating … … putting work by 20th-century masters like Bob Dylan, Fleetwood Mac and Bruce Springsteen at risk. One audio engineer, armed with unconventional machinery, is trying to solve that problem before it’s too late. (New York Times)
Be sure to check out our Masters in Business interview this weekend with Stephen Cohen, BlackRock Chief Product Officer and Head of Global Product Solutions. He is a member of BlackRock’s Global Executive Committee. Previously, he was Global Head of Fixed Income Indexing (iShares); and Chief Investment Strategist for International Fixed Income and iShares. Blackrock manages $13.5 trillion in AUM; its iShares division is over $5 trillion.
Boom or Bubble? The open-ended nature of the AI capex boom is good to see; Bubbles are not formed when investors think critically.
Source: Jurrien Timmer, Fidelity
Sign up for our reads-only mailing list here.
